Friday, December 21, 2018

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Major financial news outlets, past heads of the US Fed & Treasury and central banks are at this point not so quietly warning about not just an approaching recession, but quite possibly another global financial crisis. From the Bank for International Settlements – which is the central bank to central banks – to Ben Bernanke, Hank Paulson, Tim Geithner & Alan Greenspan, to the Financial Times, Wall Street Journal & their imitators, essentially tacit confirmations of regulatory failures to fully recover the economy from the 2008 Financial Crisis are being politely put forward to an increasingly nervous, war-weary public. Yet no credible preventative solutions are being proffered; only admissions that the next crisis will be much harder to cope with because most of the available policy ammo was used up in fighting the prior crisis a decade ago.